All Forum Posts by: Patrick Menefee

@Victoria Coleman welcome to Charlotte! You’ll find some great people here and some great investment opportunities if you keep an eye out. I also like that you’re willing to adapt your strategy, that’s important and very smart!

Hopefully you were able to make it out to Resident Culture for the meetup that Chris hosts, it’s usually a great group. I also host one the third Friday of every month, this month looking at November 15 at Angry Ales in Montford. You’re welcome to come out! We also have a great group of local investors that stay in touch via GroupMe, so if you’d like to get in touch just let me know!

This is a wealth of information, thank you to everyone who shared. There are certainly some actionable steps that I’ll be implementing ASAP

@R.T. Jenkins welcome! If I could give one recommendation, it’d be to ignore the people who tell you that you have to wait 20 years until you get out. As was mentioned (can’t remember the name, typing from my phone), there are a lot of things to take into consideration and you’ll need to make sure you put systems in place. But if you have the drive, the will, and you have the goals you want to bring to life it’ll go a long way in helping you get there.

I was stationed in Kansas for 6 years, and I’m just kicking myself for never investing while I was there. Your head is in the right spot, so just be deliberate about what you do.

I’m also in Charlotte, so feel free to reach out if you want to chat. We have a great group locally that meets monthly, as well as a platform to stay in touch. Happy to connect you to anyone I can!

@Dave Kansagor hey Dave, it’s 6:30p. We do it the third Friday of every month, would love to have you! Also happy to add you to the GroupMe if you’re interested in chatting with the group

@Stephen Foltin welcome to the area! What kind of investing are you looking into? Continuing to buy condos?

There’s a fantastic meetup that I believe is next Tuesday, hosted by @chris t (I’m on my phone, will have to tag him later). It’s out at Resident Culture. I also host one out at Angry Ales in montford, the next one is on the 15th so feel free to come out! We also have a group of local investors who stay in touch through the GroupMe app, so just let me know if you want to hop in.

Welcome!!

I'd definitely consider all of the advice people have mentioned so far, with house hacking as a great option starting out. 

While you do that, or instead of, network your *** off. Meet wholesalers, meet private lenders, meet fellow investors in the same area, meet potential partners. House hacking is a fantastic option, but even going that route you can only grow so fast and can only do so much before you run out of money. Look at how you can work with other people and get involved in their deals, or grind it out to become the expert yourself and bring deals to people.

I think this is the key right here. I'm certainly not a lawyer, however if the lease is up on the 26th and he is out of the unit on the 26th, you should pay him for the 5 days he isn't responsible for. I would ultimately defer to someone who has explicit legal knowledge, but the end date of the lease absolutely does matter.

When I look back to any time I've rented, I paid through the end of the month but received a refund if my lease ended prior. If he paid through the 31st, his lease is up on the 26th, and he moved out on the 26th, you should pay him back those 5 days. If he moved out on the 20th, you should still pay him back for only the 5 days. Hope that helps.
 

@William Boeklen welcome! When are you moving down here? And when you say looking to start a career in RE, are you all in on wholesaling full time or are you earning income elsewhere?

@Pedro Santos the questions that @Randy E. asked are spot on. There is a lot of opportunity in NC with a lot of great people to learn from, but you need to do some planning yourself and know where you want to go

@Jerryll Noorden i stumbled on this post looking for something with nothing to do with wholesaling and I’m glad i did. The insight and planning principles you talk about in your post is fantastic advice for any business, thanks for sharing!